DURHAM — IQVIA Holdings on Wednesday reported fourth-quarter profit of $16 million.
The health information technology and clinical research company with headquarters in Durham said it had net income of 9 cents per share. Earnings, adjusted for one-time gains and costs, were $1.74 per share.
The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.72 per share.
The clinical testing company posted revenue of $2.9 billion in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $2.84 billion.
“We closed 2019 with a strong quarter, and again delivered results at, or above, our financial targets,” said Ari Bousbib, chairman and CEO of IQVIA, in a statement. “Technology & Analytics Solutions added more significant wins in the quarter, including a landmark deal for OCE deployment in the U.S. R&DS continued its strong momentum, with outstanding new business wins and double-digit organic services growth in the quarter.
He also said he was please with the ongoing turnaround of its Contract and Sales Solutions division. “As we exit the final year of our three-year merger integration, our continued investments in innovation position us well to support our top line growth in 2020 and beyond.”
For the year, the company reported profit of $191 million, or 96 cents per share. Revenue was reported as $11.09 billion.
IQVIA expects full-year earnings in the range of $7.15 to $7.35 per share, with revenue in the range of $11.78 billion to $12 billion.
IQVIA shares have climbed roughly 5% since the beginning of the year. The stock has risen 25% in the last 12 months.
Shares of their stock were trading at $165.45 on Thursday afternoon — down 58 cents from the day before.